Worldwide Broker Network Arrangement
BIBA has reached an agreement with the Worldwide Broker Network (WBN) which will facilitate the introduction of BIBA member firms to one of their member firms in an EU state in order to enable you to continue to help your EU based clients.
WBN has a member operating in each EU country, and all of their members have undergone a rigorous vetting process and importantly have international employees who are English speaking.
A BIBA member that needs assistance with an EU client will be introduced by WBN to an appropriate member. Once the introduction is made, neither WBN or BIBA will have any further involvement meaning that you have control of the relationship and terms of business with the EU broker. You will also be able to agree on the scope of services (e.g. placement, renewals, claims management) and compensation directly.
This agreement will provide some certainty and continuity to BIBA members and their EU clients while we await further development regarding any trade agreement providing access to the single market.
As the mechanics are finalised we will share these with you so that you can benefit from this important arrangement.